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8 LONG TITLE
9 General Description:
10 This bill addresses foreign government real property interests.
11 Highlighted Provisions:
12 This bill:
13 ▸ defines terms; and
14 ▸ prohibits a foreign government or an entity under a foreign government's control
15 from holding an interest in real property in the state.
16 Money Appropriated in this Bill:
17 None
18 Other Special Clauses:
19 None
20 Utah Code Sections Affected:
21 ENACTS:
22 57-30-101, Utah Code Annotated 1953
23 57-30-201, Utah Code Annotated 1953
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25 Be it enacted by the Legislature of the state of Utah:
26 Section 1. Section 57-30-101 is enacted to read:
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29 57-30-101. Definitions.
30 As used in this chapter, "foreign government" means a government other than the
31 government of:
32 (1) the United States;
33 (2) a state within the United States;
34 (3) a territory or possession of the United States; or
35 (4) a political subdivision of the state.
36 Section 2. Section 57-30-201 is enacted to read:
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38 57-30-201. Prohibition on foreign governments holding an interest in real
39 property.
40 (1) Except as provided in Subsection (3), a foreign government, or an entity that is
41 owned, controlled, operated, or maintained by a foreign government, may not purchase,
42 acquire, lease, or hold any interest in real property in the state.
43 (2) A transfer of an interest in violation of this section is void.
44 (3) This section:
45 (a) does not apply to an interest held in real property before May 3, 2023; and
46 (b) is subject to any treaty between the United States and another country.